Scottsdale, AZ -- (SBWIRE) -- 04/17/2017 -- Bradley Birkenfeld joined Jason Hartman on the Creating Wealth podcast to talk about his experience with the scandalous UBS scandal.
UBS, a Swiss bank, became embroiled in controversy in 2008 when the Federal Bureau of Investigation (FBI) made a formal request to travel to Switzerland to probe a multi-billion-dollar tax evasion case involving the bank. The investigation was prompted by whistleblower Bradley Birkenfeld – a former UBS banker in Switzerland – who discovered while working at UBS that the bank had directed its North American sales force to recruit US taxpayers by offering them access to offshore financial vehicles to hide their assets and evade taxes.
"What I exposed, just on the US desk alone, was 19,000 Americans with $20 billion dollars in assets in undeclared accounts," Birkenfeld told Hartman.
Birkenfeld described the difficulty he had in exposing the corruption. "Because I worked in Switzerland and lived in Switzerland, if you give up client names, you will be breaking their law and that was the law of the land where I resided," he said. "I asked the Department of Justice for was a subpoena or immunity, and they refused both." Birkenfeld then went to the US Senate. "They were happy to give me a subpoena; within a week they gave me a subpoena which upset the DOJ tremendously because they couldn't control the investigation and take credit for it." It resulted in the DOJ claiming Birkenfeld was the "bad guy."
Birkenfeld was indicted and served a reduced prison sentence. He was later awarded $104 million from the U.S. Internal Revenue Service for his role in helping the federal government prosecute a slew of UBS clients for tax evasion.
Birkenfeld, however, told Hartman it wasn't enough. He said he didn't understand how then-president Barack Obama wasn't indicted or impeached for his role in the alleged cover-up. He also cited Hillary Clinton, who as Secretary of State, had sent the CIA a memo that was exposed by WikiLeaks.
"She got involved under the guise of President Obama to settle this case politically," Birkenfeld said.
Birkenfeld has written a book titled "Lucifer's Bankers" detailing his experience in what has been dubbed one of the largest banking scandals in history.
The Creating Wealth podcast with Jason Hartman has a global audience in more than 164 countries and is ranked highly in the Investing section of iTunes. New episodes release every week.
The podcast is a part of The Hartman Media Network, which is becoming a required stop for politicians, the media, and economic, finance, health and travel experts. The Hartman Media Network has been host to a wide variety of prominent names from all sides of the spectrum, including 2016 Republican candidate Dr. Ben Carson, former Senator Todd Akin, and Rich Dad author Robert Kiyosaki. Other guests have included Presidential nominee Pat Buchanan, Weather Underground leader Bill Ayers, and FOX host John Stossel.
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About Jason Hartman
Jason Hartman is the founder of The American Monetary Association, The Hartman Media Company, Platinum Properties Investor Network and The Jason Hartman Foundation, a resource for young adults to develop financial literacy.
In a successful investing career spanning over two decades, Hartman has been a successful entrepreneur, speaker, author and media personality. His Complete Solution for Real Estate Investors has helped thousands of people achieve their dream of financial freedom with income property investments.
Jason is also:
An innovator in teaching personal financial literacy and empowerment
Creator of the 10 Commandments of Successful Investing, a set of no-nonsense guidelines for achieving financial success
Founder of JasonHartman.com, a comprehensive resource for creating sustainable wealth through income property investments
Self-made multi-millionaire with income properties in several states
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Website URL: http://www.jasonhartman.com/cw-806-bradley-birkenfeld-lucifers-banker-how-an-american-banker-caused-the-collapse-of-the-multi-trillion-dollar-swiss-money-laundering-industry/